BNP Paribas Financial Markets Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

BNP Paribas Financial Markets reduced its holdings in shares of Matador Resources (NYSE:MTDR) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,826 shares of the energy company’s stock after selling 5,133 shares during the quarter. BNP Paribas Financial Markets’ holdings in Matador Resources were worth $1,228,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Matador Resources by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after buying an additional 187,633 shares during the period. Dimensional Fund Advisors LP grew its stake in Matador Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after buying an additional 30,184 shares during the period. Alliancebernstein L.P. lifted its position in shares of Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after purchasing an additional 555,245 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Matador Resources by 18.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock worth $93,952,000 after purchasing an additional 258,958 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after purchasing an additional 1,098,108 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Down 0.6%

Matador Resources stock opened at $44.26 on Tuesday. The company has a 50-day simple moving average of $44.16 and a 200-day simple moving average of $52.32. The firm has a market capitalization of $5.54 billion, a P/E ratio of 6.20 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a one year low of $35.19 and a one year high of $66.89.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. As a group, equities analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources announced that its board has approved a share repurchase plan on Wednesday, April 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a $0.3125 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.82%. Matador Resources’s dividend payout ratio is presently 16.78%.

Insider Activity at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener acquired 750 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the transaction, the executive vice president now owns 111,197 shares in the company, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $39.63 per share, with a total value of $99,075.00. Following the transaction, the chief executive officer now owns 60,756 shares in the company, valued at approximately $2,407,760.28. This represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 36,200 shares of company stock worth $1,701,872 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MTDR shares. Royal Bank of Canada reduced their target price on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Bank of America started coverage on shares of Matador Resources in a report on Monday. They issued a “buy” rating and a $56.00 price target on the stock. Stephens cut their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, KeyCorp cut their price target on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.44.

Matador Resources Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.